HUD’s management company (NHMSI) posted the following announcement on March 6, 2009:
“RETURN OF EXECUTED CONTRACTS WILL BE DELAYED 3-4 WEEKS DUE TO THE FACT THAT AT THIS TIME THERE IS NO CLOSING AGENT IN PLACE TO SERVICE CONTRACTS SIGNED AFTER 02/28/2009. WATCH WEBSITE FOR FURTHER INFORMATION.”
This means that you will have to plan for closing delays of at least one month. You can still submit contracts and bid on Columbus HUD homes, but you won’t get the executed contract back for 3 or 4 weeks. Most lenders require that executed purchase contract before you can apply for your loan.
We recommend you plan your closing two and a half months out. This means we are talking end of May for contracts submitted this week. If you can’t wait that long, I suggest you call me and we’ll submit offers on other Columbus houses, such as a bank owned properties or short sales listed on the MLS.
I will keep you updated, if anything changes.
Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650
